Government unveils Economic Survey 2019-20

By Muhammad YaseenPublished On 05 Jan 2023

ISLAMABAD: Advisor to Prime Minister Imran Khan on Finance, Abdul Hafeez Shaikh unveiled the pre-budget document, Economic Survey 2019-20 to share the key economic indicators and the performance of different sectors of the economy.

While unveiling the Economic Survey 2019-20 in a press conference on Thursday, Hafeez Sheikh said that Pakistan Tehreek-e-Insaf (PTI) government took loans to tackle the burden of the debt left by previous governments.

“Pakistan returned Rs5,000 billion in debt- the loans of past years,” he said.

Abdul Hafeez Shaikh said that the GDP Growth Rate will fall by Rs3 billion in the next fiscal year due to Covid-19 impact.

The advisor said that Covid-19 has pushed the global economies towards a recession, adding that Pakistan has also been affected by economic shocks caused by the outbreak of coronavirus.

Sheikh said that the government aimed to provide further relief to the masses by not imposing new taxes Hafeez Sheikh said that provisional GDP growth rate for FY-2020 is estimated at negative 0.38 percent, however, macroeconomic stabilization measures undertaken by the government over the past year resulted in significant reduction in Saving-Investment Gap which was mainly driven by reduction in the trade deficit and increase in workers’ remittances.

Here’s the complete Economic Survey 2019-20 report: null null Prime Minister Imran Khan on Thursday was presented Economic Survey 2019-20 as the federal government is all set to announce the Federal budget for the next fiscal year on Friday.

Adviser to PM on Finance Dr Abdul Hafeez Sheikh presented the copy of Economic Survey to the Prime Minister in a meeting held here, the PM Media Wing said. The federal government is set to present its Budget for the fiscal year 2020-21 on Friday, June 12.